Items Tagged with 'Bailout'

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Will the public finally know if the Treasury took over Fannie and Freddie, despite the secondary mortgage market firms being adequately capitalized? Investors have long argued this is so, and that the controversial Third Amendment Sweep is illegal. Now, a federal judge is siding with them.

Soros Fund Management is putting a giant stake in the firm that received an $85 billion bailout during the subprime mortgage crisis. A $98.4 million stake to be exact, which makes AIG the second largest investment for one of the world's biggest investors.

In the letter, the lawmakers write that the Fed’s proposed rule under Section 1101 "places no meaningful restrictions on its emergency lending powers, and in a time of crisis, invites the same sort of backdoor bailout we witnessed five years ago."

"I don't think anybody found a way to, in that moment, to explain and describe it. And I think that's because at its core the things we had to do — the work — was going to look like we were rewarding the arsonists," former Treasury Secretary Timothy Geithner said Monday on NPR.

Looking at the results, cumulative, combined Treasury draws at the end of 2015 remain unchanged at $187.5 billion as neither enterprise requires additional Treasury draws in any of the three scenarios.

Once a major player in the mortgage market, the automotive finance company and bank holding company will be traded on the New York Stock Exchange under the ticker ALLY. But will the Treasury make its money back on its investment?

Fannie Mae is paying the U.S. Department of Treasury $7.2 billion, bringing its payments now to a level exceeding the total bailout it received. It still hasn't paid shareholders. It's unclear if it plans to. And it hasn't started paying back the bailout, either.

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